The Saunders Investment Bank has the following financing outstanding.

Debt: 40,000 bonds with a coupon rate of 8 percent and a current price quote of 112; the bonds have 20 years to maturity. 210,000 zero coupon bonds with a price quote of 18.5 and 30 years until maturity. Assume semiannual compounding.

Preferred stock: 130,000 shares of 6 percent preferred stock with a current price of $81, and a par value of $100.

Common stock: 2,400,000 shares of common stock; the current price is $67, and the beta of the stock is 1.25.

Market: The corporate tax rate is 30 percent, the market risk premium is 5 percent, and the risk-free rate is 2 percent.

What is the WACC for the company?(Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places (e.g., 32.16).)